Jackson Financial Inc. (NYSE:JXN) Increases Dividend to $0.90 Per Share

Jackson Financial Inc. (NYSE:JXN) announced a quarterly dividend on Wednesday, February 18th. Investors of record on Monday, March 16th will be paid a dividend of 0.90 per share on Thursday, March 26th. This represents a c) dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, March 16th. This is a 12.5% increase from Jackson Financial’s previous quarterly dividend of $0.80.

Jackson Financial has a dividend payout ratio of 15.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Jackson Financial to earn $22.19 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 14.4%.

Jackson Financial Stock Performance

Shares of Jackson Financial stock opened at $116.76 on Thursday. The business’s fifty day simple moving average is $112.63 and its 200 day simple moving average is $102.49. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47. Jackson Financial has a 12 month low of $64.70 and a 12 month high of $123.61. The firm has a market capitalization of $7.94 billion, a P/E ratio of 16.15 and a beta of 1.45.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.90 by $0.71. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.92 billion. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.65 EPS. As a group, analysts anticipate that Jackson Financial will post 20.55 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Jackson Financial in the fourth quarter worth $129,878,000. Bank of New York Mellon Corp boosted its stake in Jackson Financial by 31.7% during the fourth quarter. Bank of New York Mellon Corp now owns 886,106 shares of the company’s stock valued at $94,503,000 after buying an additional 213,131 shares during the period. LSV Asset Management grew its position in Jackson Financial by 28.3% during the second quarter. LSV Asset Management now owns 836,238 shares of the company’s stock worth $74,250,000 after buying an additional 184,440 shares in the last quarter. Amundi increased its stake in Jackson Financial by 1,446.4% in the 3rd quarter. Amundi now owns 193,825 shares of the company’s stock worth $19,696,000 after acquiring an additional 181,291 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in shares of Jackson Financial in the 3rd quarter valued at about $15,812,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

About Jackson Financial

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.